Market Update 11.03.18 – A New Plan To Build Ethereum 2.0

Market News

A New Plan To Build Ethereum 2.0

The Ethereum Foundation is funding efforts to create specializing mining hardware in partnership with blockchain data storage network Filecoin. Announced at Devcon, the annual gathering of developers in Prague, Ethereum Foundation researcher Justin Drake unveiled preliminary designs for application-specific integrated circuits, or ASICs, that will support an upcoming ethereum technology called the “beacon chain.”

In essence, the beacon chain is a random number generator, and it is expected to form part of the next major iteration of the ethereum network – Ethereum 2.0 – under an alternative, proof-of-stake consensus protocol (compared to the proof-of-work approach utilized today).

While the term “ASIC” in the cryptocurrency space is more commonly associated with the technology applied to mining, the proposed Ethereum 2.0 hardware is not engaging in that same, computationally-intensive process.

Israeli Startups Gets $600 Through 2018 ICOs

Israeli startups have brought in more than $600 million in funding from initial coin offerings (ICOs) in the first three quarters of 2018. Crypto analytics and research firm One Alpha surveyed ICOs and blockchain projects globally, from the past year, aiming to provide an overview on the status of the blockchain and ICO ecosystem, with a particular focus on Israel.

One Alpha’s survey counted 140 active blockchain-related companies in Israel, which, when combined with other forms of investment, have received $1.3 billion worth of investments. “More than 60% of the companies and 88% of the funds are ICO-related,” the report noted. Further, the token sale figures surpass the funds raised for industry startups through traditional angel and seed venture capital investments for that period as well.

Yaniv Feldman, CEO of One Alpha, was quoted as saying:

“Israelis are less than 0.1 percent of global population while making 3 to 5 percent of global ICO fundraising amount is definitely something that shows that Israel is one of the most important in terms of blockchain innovation,” he said.

Cboe’s Head Of Equity Options Joins Blockchain Startup

Blockchain startup AlphaPoint has hired a senior executive from Cboe Global Markets, the parent of the Chicago Board of Exchange. Kapil Rathi joined AlphaPoint as global head of trading markets, a newly created position, and will be in charge of the company’s trading and exchange business.

He was previously Cboe’s head of equity options, and earlier worked at the New York Stock Exchange, ISE (now a part of Nasdaq) and Bats Global Markets, which Cboe acquired in 2017.Rathi said that he has been watching AlphaPoint for the last year and a half with interest and admired the progress it made helping institutions bring new products to market.

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